The Auditor and Model Risk Management

This webinar helps the auditor navigate the field and arrive at the right contribution level.

WHY SHOULD YOU ATTEND?

Of the many dynamics involved in model risk, internal audit should not get caught up in areas where they can add little value. This webinar provides auditor’s guidelines on what is important for them in this area. The value proposition for auditors is very different than what many may think as being able to assure model risks are known, understood, and managed is not an easy task.

AREA COVERED

• How to define a model?
• Reasons that model risk occurs
• The best audit scope for model risk reviews
• Aligning audit coverage to model risk
• Understanding the “Black Box”
• Governance and why it is important

LEARNING OBJECTIVES

• Update and rationalize the definition of model risk
• Better understand model risk governance impact on diverse operational processes
• Learn how to explain audit’s limitations in assuring that model risk is mitigated
• Gain a better approach to integrated model risk management through role definitions
• Discuss expectation, real or perceived, that impacts auditors abilities to add value
• Design a holistic approach to auditing model risks

WHO WILL BENEFIT?

• Auditors
• Audit managers
• Audit leaders
• Risk managers
• Model risk staff
• Compliance officers
• Business executives
• External auditors
• Consultants